Millennium Management LLC cut its stake in shares of HCI Group Inc (NYSE:HCI) by 97.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,357 shares of the insurance provider’s stock after selling 212,504 shares during the period. Millennium Management LLC’s holdings in HCI Group were worth $243,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in HCI Group during the fourth quarter valued at approximately $130,000. Susquehanna Fundamental Investments LLC acquired a new position in HCI Group during the first quarter valued at approximately $307,000. A.R.T. Advisors LLC acquired a new position in HCI Group during the first quarter valued at approximately $339,000. GSA Capital Partners LLP boosted its position in HCI Group by 52.2% during the first quarter. GSA Capital Partners LLP now owns 13,700 shares of the insurance provider’s stock valued at $523,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Barclays PLC boosted its position in HCI Group by 183.9% during the first quarter. Barclays PLC now owns 14,491 shares of the insurance provider’s stock valued at $552,000 after purchasing an additional 9,386 shares during the last quarter. 68.81% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised HCI Group from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Thursday, August 9th.
HCI opened at $41.22 on Tuesday. HCI Group Inc has a 12-month low of $27.11 and a 12-month high of $44.25. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.26.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, August 17th will be given a $0.375 dividend. The ex-dividend date is Thursday, August 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.64%. HCI Group’s payout ratio is -200.00%.
HCI Group Company Profile
HCI Group, Inc primarily engages in the property and casualty insurance business in Florida. It provides property and casualty insurance to homeowners, condominium owners, and tenants; and reinsurance. The company also owns and operates one full-service restaurant, two marinas, two retail shopping centers, and one office building.
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